Many Americans head into retirement knowing little about Medicare and Social Security benefits.
Millions of Americans are going to need both of these services, and they’re also entitled to them.
It’s a good idea to learn more about them and how to sign up for Medicare when the time comes.
How to sign up for Medicare coverage
Part A covers insurance for hospital visits.
Social Security recipients are also enrolled in Medicare Part B automatically, which is medical insurance.
You’ll be mailed information a few months before you’re eligible from the Social Security Administration.
Others may need Medicare if they aren’t yet collecting Social Security benefits.
You can sign up for the insurance three months before you turn 65.
You may apply online.
If you do not want to apply online you can call 1-800-772-1213 to make an appointment.
Opt out of Medicare Part B
You can opt out of Medicare Part B since it requires you to pay a premium.
If you end up deciding you want it later you may see a delay in coverage as well as a late enrollment penalty the entire time you’re enrolled.
Your monthly premium is 10% more for every year long period that you were eligible but didn’t enroll in.
This penalty won’t apply if you qualify for a special enrollment period.